Well-regarded equity release advisors in Worcestershire, UK
If you own your own property in Worcestershire and are thinking about ways to boost your retirement income, you may be considering equity release. We are award-winning equity release specialists who can access the whole of the market and research the right products, so we can find one to suit your requirements. There are hundreds of equity release mortgages available, which is why it is essential to seek the support and advice of an equity release expert.
Here at Access Equity Release, we are trusted advisors who will always act in the best interest of our client. We will take time to get to know you, look at your financial picture, and offer the best, impartial equity release advice. We are not tied to any providers and this allows us to be completely neutral. There are many different plans. Equity release broadly falls under two categories: Home reversion schemes and lifetime mortgages. Lifetime mortgages are by far the most popular option and within this category, there are countless products offering different features, such as the ability to pay off some or all of the interest.
Opting to release equity is a big decision and not always right for everyone. We also have access to residential mortgages and retirement-only mortgages.
We are regulated by the Financial Conduct Authority. This means we follow the stringent guidelines set out by this body, such as only suggesting plans that have a no negative equity-release guarantee, meaning the amount that you owe will never be more than the value of your property.
To find out more about equity release mortgages or to talk to one of our team, please call us now on 0333 000 2097.
The property market in Worcestershire: Why equity release could be the right choice
Do you own a property in Worcestershire and are wondering if it has gone up in value over the time that you have owned it? Chances are that it definitely will have done as prices across the UK have all risen over time. According to reports, between 1995 and 2020, house prices have tripled. In 1995, the average price of a property in Worcestershire was just over £57,000 and now it stands at over £245,000.
According to Rightmove in 2020, the most popular homes that were sold were detached houses, which fetched an average of £387,000 in the previous year. Semi-detached homes sold for £235,000. A few years ago the beautiful cathedral and University city of Worcester itself was voted as the country’s happiest place and with many outdoor idylls to explore, including the Malvern Hills, Wyre Forest, and the north Cotswolds, it is considered very desirable.
If you are based here and are considering equity release, please contact us. We like to meet potential clients in person, if possible, so we can offer clear advice and be available to answer questions and explain more about the subject of equity release.
If you are wondering about equity release and thinking about how much your home may be worth and how much you could release, please use our equity release calculator.
How do lifetime mortgages in Worcestershire work?
Lifetime mortgages allow you to release the equity built up in your property whilst still retaining ownership. Available to homeowners over the age of 55, all money released is tax-free. It can be either released as one lump sum or in smaller amounts. Some lifetime mortgage products have a ‘drawdown’ facility that allows you to access funds as and when you need them. The interest is only added to the amount that is released, meaning it adds up more slowly.
The loan is secured against your home and only repaid when you or the last surviving partner (in the case of a couple) passes away or enters long-term care.
The amount you can release depends on your age, health, and the value of your property. Our experienced advisers will be able to chat through the available options. We can completely personalise your plan to make it fit to you. This may include including protecting some money as an inheritance for your beneficiaries. You can also move home at a later date if you wish, subject to some conditions.
Interest rates are lower than ever and fixed for life. You may choose to pay off the interest, so it does not roll-up over time. We are always completely open and transparent and can run through all the options with you.
